Olefin metathesis is a vital tool in synthetic organic and polymer chemistry. In small molecule chemistry, olefin metathesis represents an effective method to construct elaborate cyclic and heterocyclic molecules, many of which are now being used in pharmaceutical applications. In polymer science, ring-opening and acyclic diene metathesis polymerization provides an effective route to new, highly functional polyolefins. A major limitation of these reactions is a lack of catalyst versatility, particularly concerning catalyst solubility. The vast majority of modern metathesis reactions are performed in organic solvents, typically chlorinated organic solvents. However, as the need for water-based chemistries, materials and processing increases, water-soluble catalysts and their use in polymerization and related synthetic techniques have become an on-going concern in the art.